02-15-1994 - Joint Public Hearing on Proposed Disposition & Development Agreement Between RDA & Five Star Enterprises & Orval Paul.-4
city oj',West Covina
Memorandum
AGENDA
TO: City Council and City Manager ITEM NO. A-1
DATE---Ett!La���
FROM: Redevelopment Agency Staff @PRINTED ON RECYCLED PAPER
SUBJECT: JOINT PUBLIC HEARING ON THE PROPOSED
DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE REDEVELOPMENT AGENCY AND
FIVE STAR ENTERPRISES AND ORVAL PAUL
[REFER TO AGENCY AGENDA ITEM NO. 11
SUMMARY The Agency and the City Council will consider the proposed Disposition
and Development Agreement between the Redevelopment Agency and
Five Star Enterprises, which provides for the sale of property located at
the southeast comer of Azusa and Garvey Avenues in the West Covina
Redevelopment Project Area, by the Agency to the Developer, thereby
providing for the expansion of existing operations on the approximately
30,552 sq. ft. property, and the use and operation of the Property by the
Developer for motor vehicle sales in accordance with the terms of the
Agreement. .
DISCUSSIO
In the final drafting of the Disposition and Development Agreement, several discrepancies were
discovered which would, in fact, impact the square footage and the associated sales price of the
property to be conveyed. Agency staff and the Developer have reviewed the corrections, and
additional time will be required to incorporate the corrections into the final document. There
are no major changes to the structure of the deal.
RECOMMENDATION
Staff recommends that the City Council continue the Joint Public Hearing to March 1, 1994.
Chester YoshA
Manager
APPROVED:
Steven W. Wylie G
Redevelopment Services Director
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LEGAL AD SCHEDULE
CITY OF WEST COVINA
P.O.-BOX 1440
ACCOUNT NO: 1LM8400
DATE ORDERED: 02/01/94
PAGE: 1 ,
WEST COVINA CA 91793
AD # START STOP DESC TIMES COL SIZE CHARGE NOTES
------------------------------- --------------------------------------------------------
26096 02/01/94 02/08/94 SGVT4389 2 2 66L 15�.94 FIRST RUN
ERLA SMITH,(LEGALS)
PRINCIPAL CLERK (107)
110 ls;0- j5
NOTICE OF JOINT PUBLIC HEARING BY THE
CITY COUNCIL AND THE REDEVELOPMENT
AGENCY OF THE CITY OF WEST COVINA ON
THE - PROPOSED ' DISPOSITION 'AND
DEVELOPMENT AGREEMENT.BETWEEk THE
REDEVELOPMENT AGENCY �ANDFIVE,STAR
,ENTERPRISES'AND -MR. ORVAL PAUL
,�NOTICEISMEREBY. GIVEN that the City Council of
the City 6fWest Covina (thell ity'Council") aKd ttis-� I
I.0
*WWI I lucibi �-�Wrner 4�0T__,;-AZusa L,anappaj�yey%
-,West'Co�iri6'RL*deVel6OiKent" ,
y�nye
Project ',ea;.by the'Ajehc�. to the DeVelo0er;,:,-,
for the ek1j'a'fision bl"ekistifib
operations on- -the -'ap0roximately"30,552
square -foot . prop6tyj.-and thd'-use,,and
'operation of the Proorti by the �Developer tot
moto , r vehicle. sales,- in acdordance.- with the
terms of the'Agreement. f
The Agency staff has prepared a ummary Report,
which describes the Disposition and Development
Agreement between the Redevelopment Agency and
,Five Star Enterprises. A copy of said summary Report,
together with 6 copy of the Proposed Disposition and
Development Agreement, shall be 6vAilable for public
Inspection in the office of the Redevelopment Agency
during regular office hours of 8:00 a.m. p.m.,
Monday through Friday. , ;: .1.1, ',,i .
.:-Atanyti eb re ed teandtir�jds`eitfori�'In"thii
�i& I of. ublic earing, anyone wishing to corfirji6nt
.on the Pro ' ' a endments to the `Agreement may
to by su I Ing ri en comments to the City Clerk
on or b ore Februa 15, 1994, and/or appearing at
said Public heahng.
�-"Jallet Berry, City Clerk
Publish: February' 1,' 8,'1994' t
San Gabriel Vallff Tribune